VC / investor (non-AIF or offshore) · Curated list
Norwest (India)
Growth (Series C+) · Financial services (non-tech) · Mumbai
At a glance
- Stage focus
- Growth (Series C+)
- Primary sector
- Financial services (non-tech)
- City
- Mumbai
- HQ / office
- India office: 15th Floor, Express Tower, Nariman Point, Mumbai 400021, India (Phone: +91.22.6150.1111). Global firm HQ: 1300 El Camino Real, Suite 200, Menlo Park, CA 94025, USA (Phone: +1.650.321.8000).
- Investments on record
- 10
- Corpus (as reported)
- USD 15.5 billion capital under management (global, as of 2024, following its 17th fund of USD 3 billion). India invests off the global flagship funds (no separate India-only AUM disclosed).
- Website
- norwest.com
- Profile ↗
About
Norwest Venture Partners is a US-headquartered (Menlo Park, CA) venture capital and growth equity firm managing about USD 15.5 billion, with Wells Fargo as its principal institutional limited partner. Norwest India, established as a Mumbai-based team in 2009 investing from the global flagship funds, is led by Managing Director and Head of India Niren Shah and focuses on financial services, consumer tech, B2B tech/SaaS, and logistics. It is a long-standing, active India investor with notable bets including Swiggy, OfBusiness, Oxyzo, XpressBees and a range of NBFCs/banks.
Investment focus
Early- to late-stage venture capital and growth equity. VC checks ~$10M-$30M (early/mid-stage); growth equity ~$20M-$100M (late-stage). India sectors: financial services & fintech/NBFC, consumer tech, B2B tech, SaaS, business/IT services, healthcare, logistics.
Cheque size
USD 10-100 Mn (India late-stage venture & growth equity; growth sweet spot ~USD 30-75 Mn)
As compiled from public sources — verify with the investor.
SEBI registration
Registration category not stated — reported as “Major VC”
SIDBI Fund of Funds
None found
Notable portfolio
Swiggy (food delivery; IPO 2024); OfBusiness (B2B commerce/SME finance); Oxyzo (SME lending); XpressBees (logistics); Amagi (media tech / cloud broadcast); Mensa Brands (D2C roll-up); Pepperfry (furniture e-commerce); Five Star Business Finance (NBFC; IPO/exit)
Team & organisation
Global ~127 incl. ~27 partners, 4 venture partners, 63 principals; India led by Niren Shah (MD, Head of India)
India arm of global multi-stage VC/growth-equity firm (Wells Fargo-affiliated LP base); commingled global funds (NVP series) plus India deployment; India office Nariman Point, Mumbai
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Frequently asked
- What does Norwest (India) invest in?
- Early- to late-stage venture capital and growth equity. VC checks ~$10M-$30M (early/mid-stage); growth equity ~$20M-$100M (late-stage). India sectors: financial services & fintech/NBFC, consumer tech, B2B tech, SaaS, business/IT services, healthcare, logistics.
- What cheque size does Norwest (India) write?
- As compiled from public sources: USD 10-100 Mn (India late-stage venture & growth equity; growth sweet spot ~USD 30-75 Mn)
- How do I pitch Norwest (India) through iHub India?
- Create a free startup account, open a funding round, and send a structured pitch from this profile. If the investor accepts, contact details are shared and the conversation moves into a tracked deal room.
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About this record
- ⚑ Global firm is US-headquartered (Menlo Park, CA); only the India investment team is in Mumbai. Wells Fargo (a private US bank) is the principal/institutional LP — this is a PRIVATE bank-affiliated venture fund, NOT a government/DFI/public vehicle, so it qualifies as private. Name/domain note: the firm's older domain nvp.com now redirects to the official norwest.com (same firm, not a fraud/look-alike). No email is published on the official site; only phone numbers and a newsletter signup appear (no public pitch/contact form located). Investor-contact emails seen only on third-party scraper sites were NOT used and should not be trusted. Stage skews mid-to-late VC and growth equity rather than pure seed/early. Founding-year figure (1961, traced to original Norwest venture lineage) is widely cited but should be treated as approximate.
Compiled from public sources as of 2026-07. iHub India lists investors neutrally and does not endorse, rank, or verify investment terms — confirm all details directly with the investor before transacting.
Sources: https://www.norwest.com/contact; https://www.norwest.com/india/